ManifestSeven’s Cannabis Superhighway Aims to Provide a Consistent Experience
Ryan Allway
August 7th, 2019
App, Exclusive, News, Top Story
The cannabis industry is projected to reach $5.1 billion by the end of the year, according to BDS Analytics and Arcview Market Research, making it the largest single market in the world. Despite its massive size and growth, the industry faces many challenges when it comes to supply chain consistency. California has 70 counties and 480 municipalities that each have their own rules and regulations that make it difficult to connect products with consumers.
ManifestSeven aims to build California’s first Cannabis Superhighway, enabling operators to navigate these burdens and giving consumers access to the same products everywhere throughout the state.
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CFN Media recently sat down with CEO Sturges Karban in-studio to discuss how the company plans to scale into the market:
Similarities with Technology
ManifestSeven CEO Sturges Karban has more than 20 years of experience in investment banking in emerging markets and asset classes — including technology. Back then, ecommerce companies struggled with many of the same challenges with regards to interstate commerce and supply chain logistics. The solutions to these problems became the giants we know today — Amazon.com Inc. (NASDAQ: AMZN), PayPal Inc. (NYSE: PYPL), and others.
Karban believes that similar challenges exist in the legal cannabis industry. When you look at California’s market alone, there are enormous regulatory burdens, and a significant lack of infrastructure as a result. These constraints have led to a supply and demand imbalance that impacts both operators and consumers. There’s no easy way for operators to deliver regular, consistent and universal access to products across the state.
The company is building a Cannabis Superhighway, with statewide B2B and B2C infrastructure including distribution, ecommerce, delivery and retail. This network is bringing the cannabis industry up-to-speed with conventional commerce in the same way that Amazon.com or eBay Inc. (NASDAQ: EBAY) can move products to customers in record time. In the end, the supply chain is what makes all the difference.
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Targeting All Demographics
ManifestSeven recently acquired MyJane and M Delivers as part of expansion plans across its B2C, ecommerce and delivery channels throughout California. MyJane operates a subscription box model that appeals to the female demographic—an underserved demographic within the cannabis industry. M Delivers is one of the state’s first legal cannabis delivery services, founded in 2015 in San Diego.
At the same time, M7 has unveiled its new look retail arm – Weden – a one-stop shop which brings all the company’s B2C assets under one umbrella.
To cap this off, M7 has also acquired the phone number 1-800-CANNABIS, creating a unique customer portal.
“M7’s acquisition of M Delivers and the 1-800-Cannabis portal are foundational milestones in our expansion across California,” says Pierre Rouleau, Chief Operating Officer of ManifestSeven. “M Delivers’ robust customer base, spanning northern and southern California, will provide significant growth opportunities for M7’s retail and distribution operations. Delivery is a tentpole offering within ManifestSeven’s range of services, and we’re looking forward to integrating these new, highly-scalable assets across M7’s growing statewide portfolio of retail operations.”
Karban says that the company will continue to expand with these kinds of acquisitions, while simultaneously targeting unique and underserved demographics, such as seniors, true medical, entry-level and luxury markets. There’s a huge land grab taking place for these new adopters and the company hopes to gain a solid footprint in these critical markets, particularly as others compete for broader and more saturated consumer bases.
Looking Ahead
ManifestSeven plans to expand its footprint across the United States, in state legal markets, next year after rolling out operations across California. At the same time, the company has already filed the paperwork to go public on the Canadian Securities Exchange (CSE), and hopes to list in early-September. Investors interested in the space may want to keep an eye on the company as it builds California’s Cannabis Superhighway.
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This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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